The Australian dollar pared losses on Wednesday after China’s first-quarter economic growth slightly exceeded expectations and helped underpin risk sentiment.
The safe-haven yen slipped as Tokyo shares extended gains following vague comments from Japanese Finance Minister Taro Aso on the country’s $1.26 trillion government pension fund, which traders took to mean that it could step up its stock buying.
Commodity currencies had been weak going into the Chinese data on caution ahead of the figures and news that Ukraine had launched military operations against separatists. The New Zealand dollar was hit further by surprisingly soft inflation data at home.
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